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Want to Know How Implementing a Category Management Strategy Helped a Company Attain Savings of $20 Million? Request a Free Proposal from SpendEdge Now!

Posted at 12:01 PM, Feb 20, 2019
and last updated 2019-02-20 12:01:20-05

LONDON--(BUSINESS WIRE)--Feb 20, 2019--SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their latest . The study provides a holistic overview of how rising global population and increasing purchasing power is impacting food retail companies. It also provides detailed insights on how category management process can facilitate an effective category planning cycle.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190220005716/en/

Category management study for a food retail company. (Graphic: Business Wire)

The recent shift in customer choices has raised pressure on food retail companies to scrutinize their store and brand portfolios. To address this pressure, companies are focusing on a broader scope and complete lifecycle of products and services. They are opting for strategies that can enhance customer management and support their business objectives. With a category management strategy in place, companies can easily evaluate sourcing destinations, monitor supplier performance and maximize their savings.

According to the procurement experts at SpendEdge, “The entry of new food retail companies in emerging economies is escalating pressure for existing companies to conduct an in-depth analysis and assessment of the supply market and leverage demand across the enterprise for sustainability."

The Business Problem: The client is a leading firm in the food retail industry with annual revenue of over $17 billion. Being one of the largest companies in the United States, the company wanted to address the aggressive expansion plans of its competitors by implementing effective supply chain management and sourcing strategies. They were also interested in identifying opportunities to improve their sales and margins. Hence, they felt the need to leverage SpendEdge's expertise and modify their category management strategy that can address changes in the food retail sector.

Is the rapidly evolving market is hindering the sales and margins for your organization?and know how our portfolio of category management solutions can help you.

The Solution Offered:Our procurement experts analyzed the key cost drivers in the food retail industry and devised a potent category management strategy for the client. The category management strategy helped the client to manage spend and make informed business decisions. This reduced their source-to-pay cycle times significantly. Furthermore, the implementation of category management strategy helped category managers to achieve an annual savings of $20 million for the company.

An effective category management strategy directly impacts the savings of a company. To know how you can improve savings for your organization,.

SpendEdge’scategory management strategy helped the client to:

Gain an annual savings of $20 million.Minimize source-to-pay cycle times.Want to know how you can devise an effective strategy that can help you reduce source-to-pay cycle times and attain substantial savings?

and leverage our category management services now.

SpendEdge’s category management strategy also offered predictive insights on:

Analyzing the key cost drivers in the industry.Extracting relevant information and providing actionable insights to category managers.Read the complete article to know more:

About SpendEdge:

shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more,

View source version on businesswire.com:https://www.businesswire.com/news/home/20190220005716/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

https://www.spendedge.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE

SOURCE: SpendEdge

Copyright Business Wire 2019.

PUB: 02/20/2019 12:01 PM/DISC: 02/20/2019 12:01 PM

http://www.businesswire.com/news/home/20190220005716/en